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Central Bank of Ireland

Dáil Éireann Debate, Tuesday - 8 April 2014

Tuesday, 8 April 2014

Questions (99, 100)

Luke 'Ming' Flanagan

Question:

99. Deputy Luke 'Ming' Flanagan asked the Minister for Finance if the first bond has been sold yet by the Central Bank this year; and if he will make a statement on the matter. [16222/14]

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Luke 'Ming' Flanagan

Question:

100. Deputy Luke 'Ming' Flanagan asked the Minister for Finance if the €3.06 billion bond to cover the 2012 promissory note has been sold yet; and if he will make a statement on the matter. [16223/14]

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Written answers

The Central Bank of Ireland is independent in the exercise of its functions and the management of its investment holdings is a matter for the bank itself, neither I nor the Department of Finance have any role in these matters. The Central Bank has undertaken that a minimum amount of bonds will be sold in accordance with the following schedule: to end 2014: €0.5bn, 2015-2018: €0.5bn p.a., 2019-2023: €1bn p.a., 2024 and after: €2bn p.a.. This portfolio includes both the floating rate bonds exchanged for the Promissory Notes and holdings of the 2025 Irish Government bond acquired from the Bank of Ireland on the termination of its market repo with IBRC due to the latter s special liquidation. The Central Bank normally reports in detail on its balance sheet only at annual intervals with the annual report for 2013 expected to be published at end-April.

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